Columbus Council approved intergovernmental agreements between the city and the Muscogee County School District on Tuesday as part of the development of two Tax Allocation Districts.
The Muscogee County School Board approved a similar resolution on Monday, paving the way for Midtown East and Midtown West TADs to be developed.
A TAD allows the city to issue revenue bonds for areas that need infrastructure and environmental improvements. Taxes gained from the development are used to repay the revenue bonds for about 20 to 30 years, and then the money goes into city and school district coffers.
Midtown West covers 942 parcels on about 325 acres. The district intends to support the construction of high density mixed-use commercial developments along Wynnton and Buena Vista roads, 10th to 13th avenues, and Five Points, where 13th Avenue, 17th Street and Linwood Boulevard intersect.
Midtown East includes 61 parcels totaling 93 acres. It is being developed to support commercial development along the Macon Road Corridor in the eastern section of MidTown near Exit 6 of Interstate 185. It also is proposed for future commercial infill development surrounding the Cross Country Plaza and MidTown Shopping Centers.